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Business/Financial

Harris, L3 Technologies In Deal Billed As Merger Of Equals

By Cal Biesecker

Sunday, October 14th, 2018

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Harris, L3 Technologies In Deal Billed As Merger Of Equals

Harris Corp. Chairman, President and CEO William Brown. Photo: Harris

Harris Corp. [HRS] and L3 Technologies [LLL] on Sunday morning announced a blockbuster deal that would create the sixth largest U.S. defense contractor with about $16 billion in sales and a market capitalization of $33.5 billion, with Harris shareholders owning 54 percent of the business and L3’s the rest.The company’s said that the merger will provide L3 Harris Technologies with the scale to access growth opportunities that neither L3 nor Harris could pursue independently.“This merger creates greater benefits and growth…

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